Bob Schenkenberger - Denver Real Estate

photo credit: cioproject

I'm witnessing an interesting trend. Investment property opportunities are much tougher to come by than only a couple months ago!

Earlier this year, we were finding 2-3 properties per week that would meet our "Great Deal" or "Wholesale" criteria. That is, a property available for purchase at a price that was at least 20% below pre-2005 values.

Its been over 3 weeks since one of these deals has surfaced. Additionally, [...read the rest]

To keep in the loop about Denver Real Estate and the Get Home Denver Team, make sure and sign up for our feed.

Oh yeah, it's only ONE! Don't waste time, effort and energy trying to sell a house that doesn't stand tall!

Buyer's are looking for reasons to say "NO" to a property. Don't let them drive by your gem, because you didn't take care of some easy to remedy issues on the exterior!

Here are some great tips for getting your home ready to be seen.

http://bloghomedenver.com/2008/05/23/first-impression-is-key/

To keep in the loop about Denver Real Estate and the Get Home Denver Team, make sure and sign up for our feed.

photo credit: EverySpoon

Here are current mortgage rates for the Denver Metropolitan area. These rates change constantly, so they are subject to change. I will post new rate information if these figures increase, or decrease dramatically.

Conventional 30 year fixed: 5.875%

FHA 30 year fixed: 5.75%

VA 30 year fixed: 5.75%

5 year interest only ARM: 5.375%

Jumbo 30 year fixed: 7.875%

Jumbo 5/1 ARM 5.5%

Rates for Government programs (FHA & VA) have improved slightly over last week. Conventional and Jumbo products have remained about the same. There are fears from inflation that may move rates higher (Oil at record highs!)

If you have any questions about mortgages, or how to lock in a rate, please contact us at any time.

Financing and Inspections are the two major hurdles to buying a home. A great post was written by my Buyer's Agent about his recent home purchase. He addresses some Financing and Inspection points that he just experienced.

This is a great read for anyone looking to buy a home, or any agent who works with buyer's!

http://bloghomedenver.com/2008/05/22/when-an-agent-buys-a-home-part-iii/

To keep in the loop about Denver Real Estate and the Get Home Denver Team, make sure and sign up for our feed.

The rate of foreclosures seems to be linked to a little bit of Mortgage Fraud. Well, I'll be darned. Who'd of thunk it?

Colorado has ranked in the Top 10 (or bottom 10, depending on your level of cynacism) for foreclosures during many of the past 5 years. Not coincidentally, the Centennial State has been in the Top 10 for Mortgage Fraud, over much of the same time.

Why is this? Maybe Colorado is full of dishonest people, home of the swindler? No, the real truth lies in the fact that Colorado was only one of two states (Alaska being the other) that had ZERO regulation over the mortgage industry.

Recently, this has changed. Mortgage Broker's now need to be licensed by the state, and there are several new laws, enacted by the Legislature, targeting mortgage fraud and deceptive lending practices. By January of 2009, all mortgage brokers are required to complete educational requirements and pass a state exam, to continue in the business.

A good start, and with the tightening of underwriting guidelines, the "Wild West" that was, will be a bit more tame!

We are happy to refer you to LICENSED mortgage broker's with whom we are comfortable putting our reputation behind. Please let us know if you would like the names of a couple honest and ethical mortgage professionals!

photo credit: adactio